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Multimedia | IRA and CHIPS Act of 2022

Pre-filing registration portal for Inflation Reduction Act credits: A how-to guide

Step-by-step video for state and local governments, tribes, higher education institutions and not-for-profits

Mar 12, 2024·Authored by Karen Gries, Robert Moczulewski

The IRS pre-filing registration portal for Inflation Reduction Act of 2022 (IRA) and CHIPS Act of 2022 credit claims opened on Dec. 22, 2023. Registration via this portal is a key requirement to receive a registration number to claim eligible tax credits (“direct pay” for tax-exempt entities) to support your organization’s clean energy and/or energy efficiency projects. Organizations planning to transfer credits must also complete the pre-filing registration process.

This video breaks down the IRA and CHIPS Act pre-filing registration process for public sector entities and discusses the following:

  • Pre-filing registration tool overview
  • Creating an account on ID.me
  • Pre-registration process
  • Key dates and timing
  • Additional considerations for governments, tribes, higher education institutions and not-for-profit organizations

Additional IRA resources for tax-exempt organizations

  1. clean energy tax credit transferability - Team discussion around computer meeting together

    IRS releases pre-registration portal for IRA elective pay and transferable credits

    On Dec. 22, 2023, the IRS opened the pre-filing registration portal for credits to be claimed under the Inflation Reduction Act of 2022 (IRA) and the CHIPS Act of 2022 as required by Treas. Reg. § 1.6417-5T.
  2. solar energy - renewable energy tax credits

    Understanding the proposed rules for transferring renewable energy tax credits

    The IRA’s introduction of section 6418 in the Internal Revenue Code allows for the transferability of certain renewable energy tax credits, marking a departure from traditional tax incentives while promoting renewable energy investments.
  3. Exterior stairs lead up signifying the future, recovery

    Taking advantage of the Inflation Reduction Act

    Watch our Inflation Reduction Act video for colleges and universities, governments and not-for-profit organizations.
  4. clean manufacturing - inflation reduction act tax credit

    Inflation Reduction Act Tax Credit Solutions

    The Inflation Reduction Act (IRA) includes the largest clean energy incentive effort in U.S. history. Find out how your organization can leverage IRA tax credits to save as much as 50% or more on qualifying project costs.
  5. Professional shares results on tablet

    Baker Tilly Launches End-to-End Compliance Solution for Prevailing Wage & Apprenticeship Requirements in the Inflation Reduction Act

    New IRA PW&A compliance portal streamlines payroll and apprentice tracking, aiding clean energy projects.
  6. IRS code section 469 - Capitol Building Washington

    Inflation Reduction Act regulations released regarding the transfer of certain credits

    The IRS and Treasury issued regulatory packages covering the transfer of certain credits by eligible taxpayers in exchange for cash to monetize energy credits under the Inflation Reduction Act (IRA).

Baker Tilly can help

Solar panels and wind turbines creating energy

We recognize the process to successfully obtain eligible IRA and CHIPS Act credits for your community or campus is extensive and challenging. Our team is here to help:

  • Offer technical expertise to help understand your tax credit opportunity
  • Determine project eligibility
  • Manage development projects to maximize available credits
  • Help ensure compliance with various requirements
  • Advise on how IRA credits align with other aspects of an organization’s capital stack
  • Generate workpaper files to support investment tax credit claims
  • Provide funding support and tax credit monetization or transfer

Contact us to discover how your organization can apply for and leverage tax credits to save on qualifying project costs or if you have questions about the pre-filing registration tool or process.

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The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.

Karen Gries
Director
Robert Moczulewski
Director

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